Samsung Tidal in acquisition talks
Samsung Tidal are in acquisition talks after sixteen months of Jay-Z (Sean Carter) and other artists owning the company and trying with might to promote the premium music streaming service.
Samsung Tidal sounds like it has a ring to it and the online music service will probably fare better in the hands of the phone company giant than the hip hop mogul and his friends.
Reportedly both Google and Samsung are interested in taking Tidal for themselves. The $20 monthly subscription fee promoted by Tidal since Sean Carter took it over, didn’t sit too well with many music listeners who prefer streaming their music.
In a few attempts they tried to hold on to releases and videos exclusively and luring a few eager fans to sign up for the free trial, only to unsubscribe once they had ripped what they wanted.
It looks like Jay-Z may be getting his $56m investment back, whether or not he and his partners will be making a substantial profit is yet to be confirmed
Samsung Tidal enjoy a long relationship together, and Samsung also sponsored Rihanna’s latest album and tour with & $28m.
According to a source close to the talks…
“Samsung is re-engaging; they are working on something really big, and they’re keeping it very quiet in case it leaks.” said a source close to the talks.
And a spokes person for Samsung stated:
“It is our policy to not comment on rumors or speculation.”
Allegedly Spotify has also been interested in Tidal and they too believe that they will be able to use the struggling Tidal to help boost their own services.
Tidal is having a difficult time financially, according to sources they are not paying royalties on time either.
Jay-Z has been under pressure with keeping the company going and has used some of his own money in order to facilitate its survival.
Executives at Tidal believed it was worth as much as $250 million at the time of its launch. However according to sources it is valued at around $100 million.
If the Samsung Tidal acquisition does happen it will give the beleaugured streaming service a better shot at profitability than the business model put forth by Jay-Z and co.
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